Invest In Education Bank, Educationist Tells Govt

Adamu, Education Minister

The Chairman, Board of Governors, Trinity College, Ofada, Ogun State, Pastor Bayo Kolade, has called on the government to invest in education banks.

Kolade told our correspondent in an interview that the establishment of education banks across the country would assist more Nigerians to attend higher institutions through loans which they would pay back after graduation.

He said, “The government of Nigeria should invest in education banks, an average American above 21 years pay for their education through loans and they pay back after they graduate. If such is established in Nigeria, many Nigerians will have access to education; such banks will fund education and even research. If the government can invest in this, it will go a long way. Children of parents who cannot pay school fees will have the opportunity to go to school and this will reduce drop-outs. The government has the role of creating the seed money.”

He explained that without doubt,  the financial institutions might have the fear of not being able to get back their loans, he, however, added that with the use of identification technology, debtors could be traced.

“If you go to private schools it is easy to trace students, technology can help us overcome any challenge around it.”

“The stakeholders in the education sector are diverse and we sometimes over-emphasise the role of government. The primary education is the role of Local Governments, the secondary school is the State Government should and the Federal Government only set the framework for these institutions,” he said.

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